With a multimillion-dollar pricetag, plans for the 31-townhouse development by TGM Group Geelong have been submitted to Ballarat City Council.

The site, which fronts both Drummond Street North and Creswick Road, has been left vacant for more than eight years and has been frequented by squatters and vandals.

Planning approval was given for the site’s asbestos-ridden buildings to be knocked down earlier this year, which has yet to be done.

In its report to the council, TGM Group Geelong said the site offers a “unique opportunity to create a high-quality residential environment”.

It also said the development would have five distinct townhouse types made of brick and cement, with either two or three bedrooms and private parking.

The report said the housing would have a variety of sizes and prices and a choice of configurations.

“The proposal will also provide a sustainable, safe and secure environment that is an asset to Ballarat by enhancing the public realm through the responsive design,” the report said.

An internal road would also be built to link the development to an entry and exit point onto Drummond Street North.

A communal park would also be created with a barbecue pavilion, eating area, paving, a raised lawn and landscaped garden beds.

Five visitor car parks will also be provided.

The site lies within the Central Ballarat Heritage Precinct, and an historically significant house fronting onto Creswick Road to be retained.

“The proposed development and associated subdivision will have no detrimental impact on the significance of this heritage place,” the report said.

“The two new dwellings proposed along the Drummond Street North frontage will have appropriate front setbacks and will be of a contemporary design that will sit comfortably within the heritage streetscape.

“The design does not attempt to provide historic replicas but will be sympathetic in form, scale, height, siting, materials and colours to that used in the vicinity.

“The remainder of the development will be situated within the interior of the site.